US Postal Service 2014 Annual Report Download - page 49

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2014 Report on Form 10-K United States Postal Service 45
United States Postal Service
Statements of Cash Flows
Years Ended September 30,
(in millions)
2014
2013
2012
Cash flows from operating activities:
Net loss
$
(5,508
)
$
(4,977
)
$
(15,906
)
Adjustments to reconcile net loss to cash provided by (used in) operations:
Depreciation and amortization
1,843
1,901
2,075
Loss (gain) on disposals of property and equipment, net
43
(53
)
(5
)
(Increase) decrease in other assets
(35
)
—
17
Increase (decrease) in noncurrent workers’ compensation
1,184
(312
)
2,343
(Decrease) increase in noncurrent deferred appropriations and other revenue
(5
)
13
(3
)
(Decrease) increase in other noncurrent liabilities
(53
)
141
(97
)
Changes in current assets and liabilities:
Receivables, net
54
(66
)
108
Other assets
—
4
(6
)
Retiree health benefits
5,651
5,561
11,198
Payables, accrued expenses and other
1
(252
)
(615
)
Deferred revenue-prepaid postage, prepaid box rents and other
139
(1,026
)
460
Net cash provided by (used in) operating activities
3,314
934
(431
)
Cash flows from investing activities:
Change in restricted cash
66
(79
)
(28
)
Purchases of property and equipment
(781
)
(667
)
(705
)
Proceeds from sales of property and equipment
129
158
148
Net cash used in investing activities
(586
)
(588
)
(585
)
Cash flows from financing activities:
Issuance of notes payable
5,800
5,500
5,300
Payments on notes payable
(5,800
)
(5,500
)
(4,100
)
Net change in revolving credit line
—
—
800
Payments on capital lease obligations
(58
)
(59
)
(51
)
U.S. Government appropriations
(90
)
(48
)
(129
)
Net cash (used in) provided by financing activities
(148
)
(107
)
1,820
Net increase in cash and cash equivalents
2,580
239
804
Cash and cash equivalents at beginning of year
2,326
2,087
1,283
Cash and cash equivalents at end of period
$
4,906
$
2,326
$
2,087
Supplemental cash flow disclosures:
Cash paid for interest
$
184
$
190
$
188
See accompanying notes to the financial statements.